However, people with real needs have to find it hard to save enough money to buy a house, and they are inexperienced in the market. Therefore, before the shocking discount information, homebuyers need to think carefully. Comparing apartment prices is similar to comparing Toyota to Mercedes.
There are neighboring project, creating a strong attraction for the market. However, it is only a sentiment comparison if only considering the selling price. If a product costs twice as much as another product, the investor has targeted a different customer group and the quality is also different. For a professional real estate investor, such a comparison is like saying that Toyota is only half the price of Mercedes. But for customers with real needs, inexperience, it is easy to “blind” to not see all the risks leading to ill-informed decisions
The quick of house can get it
Real estate is a unique product, no two products are the same. Therefore, it is not possible to use feelings to evaluate, but to learn in depth and detail. While the investor of the CT10 Dai Thanh project in Hanoi sells some apartments for 10 million/m2 for “relationships”, which has caused a fever, in Ho Chi Minh City there is no shortage of this price. Affirming that an apartment of 10 million/m2 is the real value is just a one-sided view because the value of equipment, infrastructure and accompanying utilities has not been taken into account.
The downtrend has not shown any signs of stopping, there may be new projects launching shock discounts. So, home buyers for real needs need to consider what factors to choose the most suitable product?
There are 3 groups of factors that customers need to consider carefully such as reputation, capacity of the investor, products and contracts. In each group of factors, there will be points to note to help customers have a more comprehensive view before choosing.
Firstly, it is necessary to consider the reputation and capacity of the investor: Customers need to find out through the projects that this investor has developed, information about the current financial capacity of the investor, the comply with regulations applicable to real estate enterprises. Choosing to send gold will help customers not have to pay dearly for investors who “hang goat’s head, sell dog meat”.
Second, consider the product: Customers need to find out the legality of the project, the construction permit, the number of floors. It is important when assessing the value of an apartment to consider the integral whole of the relationship between the location, the surrounding natural and social environment, and the design of the project itself.
The correlation of the location of the project is to consider the project in terms of convenient traffic, close to the center, close to utilities, resonance values such as supermarkets, amusement parks, schools, parks … These factors determine the price of land and account for a high proportion in the price structure of apartments.
Polluted environment, prone to flooding, noise, dust, etc. complex surrounding communities are factors that often come with cheap apartments. Customers can ask people in the area to better understand this information.
Trends in real estate investment in the new center
In project design, construction density, land use coefficient, area of public areas, elevators, trees are factors that investors often “save” to the maximum, so customers need to look carefully. Some projects have low construction density but very high land use coefficient because high-rise construction can overload elevators, parking lots, responsiveness of public spaces and designed utilities. design in the project.
In addition, customers should consider whether the apartment is designed to suit their needs or not. If the project is in the construction phase, the customer can agree to let the investor correct the design to reduce costs and apply for a repair permit later.
Finally, it is necessary to consider contract terms: Delay in construction progress, late handover of apartments is the highest risk in the contract when customers buy cheap apartments in the construction phase. Therefore, customers need to carefully review the penalty terms when the investor delivers the house late. Payment terms according to construction progress will help customers avoid the situation that the money has been given but the porridge has not been seen. Materials, interior equipment in the apartment need to be specified to avoid the investor changing unlike the model house to reduce costs. Customers need to carefully read the terms of the difference between the actual apartment area and the contract, how to determine the apartment area to avoid complaints later. In addition, the part of common ownership is a contract that often states very generally, elevators, power supply, water, drainage, firefighting, lobby furniture, etc.